PYX Resources: Achieving volume and diversification milestones. Watch the video here.
China,India both back critical tec, in coal, both implement the use with a mix of latest Renewable s, two with the largest growing economy,s,,, in the world ,
Hasina has no option but to have half the power produced by coal ,she has shown that with her stance on the sundabans ,
so when we pitch our plan which dwarfs any others creating both cash and guaranteed wealth & cheap power, its hard to logically see how she /why she would reject it, looking at the pros & cons,and her other options that of them self would create more pollution,,given her stance changing recently we have a much better chance than our SP suggests, and once J/V done finance in place this will surpass its all time highs,, if not we will seek reimbursement which is around 40p to £1,
West are not needed ,as before
China has committed more than $20bn
The promised splurge on infrastructure dwarfs anything the world has seen before. Morgan Stanley predicts BRI investment will rise above $1tn over the next decade. The initiative already covers 124 countries that together account for two-thirds of the world’s population and a third of global GDP.
The forum will review the progress so far and set the direction for the next five years, with a central focus on the “quality” of projects. For climate campaigners, this is seen as the best opportunity to date to reduce emissions.
Coal is likely to be at the centre of the debate. China’s banks have earmarked $36bn for 102 gigawatts of coal-fired capacity in 23 countries, according to the Institute for Energy Economics and Financial Analysis. Last year two-fifths of the country’s overseas investment was reportedly spent on this dirty energy.
The biggest recipient, with $7bn, is Bangladesh, where China is vying for influence with Japan, South Korea and India. All four countries are building thermal plants in Bangladesh. Last year China Huadian Hongkong Company Limited signed a deal with a local partner to build a 1,320-megawatt plant at Moheshkhali island
Mate they can bot respond to media twwets. They will release an RNS. It the ay public companys work. Before when there was a press account daming us and they sorted that out. Mate they are on the case. And completely alined with out come both tang and Dyani. And have many millions on the line.
New Delhi: China's energy giant PowerChina has signed an agreement and a contract with GCM Resources, a leading British resource exploration company, for development of a coal-fired power plant in Bangladesh.
Both the Joint Venture (JV) deal and the engineering, procurement and construction (EPC) contract were signed at a ceremony in Dhaka on Thursday. The plant would be developed in Bangladesh's Dinajpur district, some 338 km northwest of the capital, Xinhua news agency reported.
The proposed project is part of a broader strategy by GCM to generate 6,000 MW of low cost electricity for the Bangladesh market utilizing domestic coal, the report said.
The power plant, with two units of a capacity of 1,000 MW each, will be built with ultra supercritical technology, which provides lower levels of emissions and delivers the lowest cost of power.
The project would deliver a sustainable power solution for the development and progress of Bangladesh and would have a substantial multiplier effect on the country's economic and social advancement, according to a statement by the companies.
Ding Zhengguo, Chairman of PowerChina International, said they were delighted to be a partner with GCM to deliver an integrated mine and power plant for the people of Bangladesh.
"Completing the JV agreement and EPC contract are very important steps in progressing the combined project. As the power plant contractor, we are committed to a positive relationship with the community and to constructing an environmentally friendly power plant for the benefit of the local people," he said.
Michael Tang PJN, Executive Chairman of GCM, said: "The JV agreement and EPC contract are key milestones for the development of the 2nd proposed 2,000 MW power plant project at the mine site and aligns with GCM's strategy to present a holistic power solution to the government of Bangladesh which can generate 6,000 MW at the lowest cost for the country."
"The Phulbari Coal and Power Project will deliver a significant multiplier effect on the nation's advancement," he added.
PowerChina is an investor and contractor for three large projects in Bangladesh -- two coal-fired power plants with a combined capacity of 1,670 MW and a JV for the Dhaka Elevated Expressway.
[Eco paper & its not correct we have local support & its not possible to support the growth & energy needs with out using own coal mix with all else]
The government has premised energy growth on a rise of coal-based power going from 2 per cent to over 50 per cent of the Bangladesh’s electricity supply by 2022, with 23,000 megawatts of new coal powered plants in the pipeline.
Chinese and other foreign backed coal powered plant have attracted widespread local protests among people who fear the pollution will damage their livelihoods and they will lose their land.
Many experts question why Bangladesh is betting on coal to power the country’s fast growing economy, as other countries in Asia try to shift away from the dirty fuel amid an intensifying pollution crisis. Prices for solar, wind, and grid efficiency are also predicted to soon fall below coal power in the country.
Chinese financial institutions and companies have committed, or proposed, to finance one quarter of the coal plants under development outside of China – 102 gigawatts of capacity spread across 23 countries.
Bangladesh is the country with the most proposed coal-fired capacity and funding from China, totalling USD 7 billion for about 14 GW of capacity, according to a recent report from the Institute for Energy Economics and Financial Analysis (IEEFA). However, most of this capacity is long delayed and still in pre-construction status.
Infrastructure and energy bind Bangladesh to China
As China outstrips all other external investors in Bangladesh by a considerable margin, energy and infrastructure projects are tying the South Asian country ever more tightly to China.
Bangladesh’s growing energy demands and China’s interest in expanding its horizon across Asia has made the world’s second largest economy a major investor in the deltaic nation
The pace of Chinese investment in Bangladesh is sidelining the country’s previous major development and strategic partners. India used to be its most important, but it has invested only a tenth – only USD 65 million – of what China has during the same period.
Bangladesh’s closer economic relationship with China has disappointed India. A particularly painful shift was when the Dhaka Stock Exchange chose to sell a 25 per cent stake to a Chinese consortium of the Shenzhen and Shanghai stock exchanges last year, rather than to India’s national stock exchange, which bid 56 per cent less.
Dirty power
Most of Chinese investment in the 2018-19 fiscal year, USD 407 million, went into Bangladesh’s power sector, specifically to coal-based power projects. These included the 1,300 MW Chinese funded coal power plant in Chittagong, and one in Patuakhali (Payra), close to a famous Hilsa (Bangladesh’s most famous fish) sanctuary. An agreement for a third Chinese backed power plant has recently been signed for a 1,300 MW coal project in Cox’s Bazar.
The government has premised energy growth on a rise of coal-based power going from 2 per cent to over 50 per cent of the Bangladesh’s electricity supply by 2022, with 23,000 megawatts of new coal powered plants in the pipeline.
Outlook from March,to my mind this indicates any time now ,the trading is really interesting with taking positions as soon as sales appear,rather than the drift down,my guess between now and June,with a J/V in-place, & proposal to follow , we will be in a completely different price range ,and start to reflect fair value,
Over the coming months, the GCM team is looking forward to progressing negotiations with a large international coal mining company to partner with the Company in mine development, to work with its partners to finalise the submission to the Government, and then consult with the Government to finalise an agreeable proposition which is amenable to all parties.
In conjunction with its strategic partners, the Company has been working tirelessly to finalise a formal proposal to the Government of Bangladesh for their consideration. I am pleased to see the recently reported public comments by a number of ministers in favour of domestic coal development.
I
Speaking to the Dhaka Tribune on phone on Wednesday, Saki also termed the price hike proposals “illogical.”
“If the proposed gas prices are implemented, it will hurt the everyday living of all the citizens. However, the BERC has a technical committee, which will scrutinize the proposals,” he said. “Nonetheless, people should join us and protest the initiative to raise gas prices for the sake of the nation’s betterment.”
Also Read- Bakhrabad, Jalalabad too propose over 200% gas price hike for power, fertilizer plants
Ghulam Rahman, president of the Consumers Association of Bangladesh (CAB), called the proposals “irrational.”
“All these companies proposed the same rates. These proposals have no rational grounds,” he told the Dhaka Tribune over phone on Wednesday. “The BERC is an independent organization which is accountable to the law. They have to obey the rules and regulations. This price rising process is illegal to begin with. We have already raised this issue before BERC.”
Contacted, Jalalabad Gas Company Mananging Director Md Ehsanul Haque Patwary refused to make a comment and said: “I cannot say anything about it. You should ask the BERC.”
The Dhaka Tribune made several attempts to contact BERC Chairman Monowar Islam on Wednesday evening, but his phone was found switched off.
Interestingly, Jalalabad placed its proposal during the second session of Wednesday’s hearing, where none of the stakeholders and rights group representatives – i.e. Gano Sanghati Andolon, CAB, Communist Party of Bangladesh, Bangladesh Re-Rolling Mill Owners Association, Bangladesh Steel Mill Owners Association, BGMEA, FBCCI, and DCCI – were present.
All these organizations have been invited by the BERC to take part at the public hearing.
Why is the public hearing taking place?
The BERC arranged the public hearing in response to the appeals made by different gas companies to raise the gas tariffs, on account of the impending LNG report to meet the growing national demand.
Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) began the hearing on Monday with a statement about a projected annual loss of Tk24,540 crore in LNG imports.
Petrobangla, in its proposal, said the mother body had been purchasing each unit of gas from different upstream gas production companies at an average price of about Tk6.50, while each unit of LNG will cost Tk39.82.
Petrobangla Chairman Ruhul Amin said they would have to face a huge loss once it started to import 1,000mmcfd LNG from April this year to meet the country's gas shortage. “So it is essential to raise the gas prices to offset the losses,” he said.
If approved, this price hike will be the second in the same fiscal year; the last one took place in October last year, although it did not affect the consumer end – the government paid Tk4,500 crore to the gas companies.
However, according to the BERC guidelines, raising the gas prices more than once in the same fiscal year is ille
Its All about the new GCM we have little in common with our past goals,, the biggest benefit goes to GOB &the people,it is all about lunching that country into the next dimension,inspite of her great vision little has come to fruition ,
my guess is minimum £2, but dependent on whats offered by virtue of government aliment between £3 &£5 is fair value,,
The market can not value this ,its a tight ship our directors are all but abroad,its of no value to them the SP going on a rip yet,, if a B/O looming,
the other news which creates an unheard of path previously is local support from both people & goverment,, no Anu any more because the project is now solely for the benefit of the country ,,a screaming buy from where im sitting but the market dont seem to agree, GL All
[Its within reach, but not yet in our grasp,would you not love to be a fly on the wall,hold tight have faith do your research,]
While absolute energy security might never be within reach, internal measures, viz. exploring local reserves, harnessing renewable sources particularly solar and improving energy efficiency, could help reduce pressure on import. As we have been able to cope with the pressure of increasing demand for electricity in last decade, the attention now should be on internal dimensions of energy security instead of power security only.
Shafiqul Alam;
International Climate Protection Fellow at Ecologic Institute, Berlin, supported by Alexander von Humboldt Foundation, Germany
INTERNAL DIMENSIONS OF ENERGY SECURITY
Energy security, which is uninterrupted supply of energy at reasonable prices, as defined by IEA, has both external and internal dynamics. It can be ensured through local adequacy, i.e. abundant and varied forms of indigenous energy resources but the countries that face local shortages, as we do, depend on import. However, internal measures could attenuate reliance on external sources.
The internal dimension of energy security necessitates funding for maintenance of existing electricity networks as well as extension in light of growing demand for electricity and the government’s goal to ensure access to electricity. Other internal dimension of the energy security is to invest in resource exploration, comprising both traditional and alternative sources, which can sharply reduce imports.
[for me this is not about day to day ,rather the long game which is at its end ,ive backed this from 11p to 330,& it was in no doubt then that it would have risen back to over £9, whats changed coal is twice the price but to even that out we have increased our share holding by just under the same amount ,but we now have a bigger need,& are J/V with the biggest & most influential ,and will have keen interest from other sources,we are planing to mine & will only sell if the offer is correct,investing here takes a lot of fortitude ,and its a gamble as anything in life is, G,Lall]
India keen to invest more in BD power, energy sector
ndian High Commissioner to Dhaka Riva Ganguly Das yesterday expressed her country’s keen interest to invest more in Bangladesh’s various sectors including in power, energy and in LNG.
The new Indian High Commissioner to Dhaka expressed such interest when she paid a courtesy call on Finance Minister AHM Mustafa Kamal at his ERD office last afternoon, said a Ministry release.
During the meeting, they discussed various issues related to bilateral interests including construction of the Akhaura-Agartala railway track as well as improvement of the bilateral relations.
we do know it but ,
value is as much about perspectives when you see experts writing valued opinions, the the wider investors start to take note,
whats the difference between now and 05 when we were peaking at £9, none really the need is greater tec as moved in our favor,its just completely of everyone's radar ,when articles start getting printed normally the tide turns and quickly ,people in the bigger circle are starting to wake up
Plagued by persistent energy crises, the South Asian country has turned to courting foreign direct investment to fill its ever-growing gap between energy consumption and supply. For its part, China seems willing to foot the bill. China Huadian Hong Kong Company Limited agreed to construct one power plant in Bangladesh last year, and PowerChina partnered with a British counterpart to build another earlier this year.
India continues to cooperate with Bangladesh on energy development while Indian experts frame Chinese investment in Bangladeshi power plants as a potential threat to India’s national security.
“China already has significant investment in the energy sector—as does India,” Saha told The Diplomat. “It is very important for Bangladesh to keep both countries happy by providing the same business opportunities for Indian and Chinese companies that have vested interests in Bangladesh.”
[If we are/was to sell exactly ,want we want 2 main bidders,India & china]
Bangladesh does generate two major risks through its deeper ties with China,” Kugelman told The Diplomat. “One is economic: Bangladesh runs the risk of finding itself in considerable debt. The other risk is geopolitical: Bangladesh’s relationship with China’s Indian rival has intensified over the course of the last five years, and, if Dhaka is seen to be moving closer to Beijing, this could cause some troubles for Dhaka’s important relationship with New Delhi.”
China has routed much of its support for foreign infrastructure such as power stations through the Belt and Road Initiative (BRI), an ambitious project to incorporate African, Asian, and European countries into its economic sphere of influence. While Bangladesh and several of its neighbors have received short-term benefits from the BRI, the loans that underpin Chinese involvement often come with long-term consequences: In the most startling example of predatory lending, Sri Lanka surrendered a Chinese-funded port to a Chinese state-owned enterprise after failing to repay its debt.
As a developing country, Bangladesh is badly in need of energy,” said Krishna Kumar Saha, an assistant professor of public administration at Cumilla University. “An energy crisis can hamper the country’s development process, which might bring instability. Therefore, Bangladesh wants to bring foreign direct investment to the energy industry to improve the energy situation quickly.”
As almost 30 percent of Bangladeshis lack electricity, companies from Britain, China, India, and the United States have raced to invest in the energy industry in Bangladesh. China appears to be winning the competition, eclipsing India as Bangladesh’s largest partner in energy development in 2015.
“Bangladesh, being a country with a growing economy and a large population, will always run the risk of energy insecurity,” said Michael Kugelman, senior associate for South Asia at the Wilson Center. “Thus, it will want to keep all options open when it comes to its pursuit of energy resources, including recourse to foreign investment. China, with its deep pockets and willingness to invest, will always be an attractive partner for Dhaka when it comes to seeking out energy investors.”
Plagued by persistent energy crises, the South Asian country has turned to courting foreign direct investment to fill its ever-growing gap between energy consumption and supply. For its part, China seems willing to foot the bill. China Huadian Hong Kong Company Limited agreed to construct one power plant in Bangladesh last year, and PowerChina partnered with a British counterpart to build another earlier this year.